Urban 8 is at the corner of Third Street and Greenwood Avenue, within half a mile of recently built Greenarch Apartments. Tulsa Development Authority Chairman Julius Pegues said the focus on redeveloping downtown is starting to pay off.

"We have developers who are interested in making Tulsa's downtown area — and the city of Tulsa — one of the most vibrant cities in this country," Pegues said.

Construction was originally slated to begin in spring of 2012, but the company says two units have already sold.